Ausgrid’s new shareholders and management team are wasting no time in addressing the company’s capital structure.
Street Talk understands that Ausgrid is preparing to tap the United States privately issued debt market as early as this week, with the help of lenders and advisers Bank of America Merrill Lynch and Commonwealth Bank of Australia.
The US debt deal is expected to be worth more than $US500 million, and represents the first part of Ausgrid’s push to refinance a $2 billion bridge loan which matures in December 2018.
The bridge loan was arranged as part of a wider $12 billion debt package last December, when the NSW electricity distributor’s new investors IFM Investors and AustralianSuper took a controlling stake in the compan…
Read the full article at: http://www.afr.com/street-talk/ausgrid-hires-banks-to-refinance-bridge-loan-in-the-us-20170730-gxlyjb